A new company focused on building a portfolio of businesses providing early-stage drug development services, Quotient BioResearch, made its first acquisition—HFL at a price of GBP 20.25 million. HFL delivers advanced analysis of biological and pharmaceutical compounds.
HFL has two principal businesses: drug surveillance in sport, such as equine, canine, and human, and sport’s supplements testing and drug development services for the pharmaceutical and biotechnology industries, including bioanalysis, biomarker research, pharmaceutical analysis, and clinical laboratory services.
"HFL's world-leading position in the field of drug surveillance testing is an excellent complement to its emerging position as a provider of high-quality analytical services to the global pharmaceutical and biotechnology industries," says Paul Cowan who will have a controlling shareholding in Quotient BioResearch and become executive chairman.
Quotient BioResearch is owned by a consortium of investors, including founder Paul Cowan, former CFO of Inveresk Research Group, as well as the senior management team of HFL. The company plans to grow through the acquisition of businesses involved in the provision of high-quality analytical and safety evaluation services for the pharmaceutical and biotechnology industries.